Protein Ingredients Industry Overview
The global protein ingredients market size was valued at USD 38.5 billion in 2020 and is expected to reach USD 85.5 billion by 2028, expanding at a compound annual growth rate (CAGR) of 10.5% during the forecast period.
The market is gaining momentum and witnessing a high demand owing to rising demand for food products, such as margarine, cold cuts, bakery products, spreads, yogurt, and milk sausages, which are produced using protein ingredients. Increasing consumption of these products among health-conscious and elderly consumers is also fueling the market growth. Moreover, a rise in the innovation of several proteins by various manufacturers that constitute a wide range of amino acids and perform specific functions, including satiety, muscle repair, weight loss, and energy balance, is expected to present immense growth opportunities for the market.
Gather more insights about the market drivers, restrains and growth of the Global Protein Ingredients Market
The U.S. market has witnessed a considerable increase in the consumption of animal-based products in the recent past. Animal protein is expected to witness further growth over the next few years in the country. Momentous demand for these products derived from animal sources in the domestic market is expected to ascend the product demand in the U.S. The supply chain initiatives undertaken by the ingredient manufacturing companies to strengthen the distribution of products are further expected to drive the market over the forecast period.
Plant-based ingredients are manufactured from crops, including soy, canola, wheat, and pea. Soy protein has been growing at a significant rate and has had the largest share in the plant-based category. It is expected to expand at a high compound annual growth rate over the forecast period. Additionally, the Food and Drug Administration (FDA) authorized a health claim for the reduction of LDL cholesterol through dietary guidelines suggesting four servings of soy per day to help reduce the LDL cholesterol level by 10% in the body.
Product innovations and technological advancements are expected to be the major factor for the expansion of the market over the forecast period. Protein ingredients are now being used in diverse applications, for instance, isolates have high dispersibility and very fine particle size due to which they are widely used in dairy applications. Consumers’ belief in the health benefits associated with these products has been the key driver for this market over the past few years and the trend is anticipated to continue over the forecast period.
Protein Ingredients Market Segmentation
Based on the Product Insights the market is segmented into Plant Proteins, Animal/Dairy Proteins, Microbe-based Proteins, Insect Proteins
Based on the Application Insights the market is segmented into Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Feed, Others
Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Central & South America & Middle East & Africa
Market Share Insights
Key Companies Profile:
The incorporation of protein powders in different products and the expansion of protein derivatives are expected to remain key factors for the success of industry participants over the next few years.
Some prominent players in the global protein ingredients market include:
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